WILSON BAYLY HOLMES - OVCON LIMITED
Building and civil engineering contractors
(Registration no. 1982/011014/06)
ISIN No: ZAE 000009932
Share code: WBO
(“WBHO” or “the Company”)
TRADING STATEMENT
The directors of Wilson Bayly Holmes-Ovcon Ltd hereby advise shareholders that, in respect of the consolidated financial results for the year ended 30 June 2016, earnings per share and headline earnings per share are expected to vary by the percentages and amounts included in the table below:-
30 June 2016% range between / 30 June 2016
Between / 30 June 2015
Restated / 30 June 2015
As previously reported
Continuing operations:
Headline earnings per share (cents) / 20% to 30% up / 1 309 and 1 418 / 1 090.7 / 1 105.7
Earnings per share (cents) / 50% to 60% up / 1 340 and 1 430 / 893.6 / 908.6
Total operations:
Headline earnings per share (cents) / 5% to 15% up / 1 234 and 1 351 / 1 175.2 / 1 175.2
Earnings per share (cents) / 25% to 35% up / 1 287 and 1 390 / 1 029.5 / 1 029.5
RESTATEMENT OF PRIOR YEAR FIGURES
During the year under review 3Q Mahuma Concrete Holdings (Pty) Ltd, a subsidiary of Capital Africa Steel (Pty) Ltd met the requirements for classification as a discontinued operation in terms of International Financial Reporting Standards (IFRS). Earnings per share and headline earnings per share in respect of the comparative period 30 June 2015 have been restated accordingly.
COMMENTARY
The significant increase in earnings per share from continuing operations is attributable to normalised earnings generated from Australia.
The smaller increase anticipated in respect of earnings per share from total operations at 30 June 2016 is due to the loss recognised on the disposal of Capital Star Steel.
The summary consolidated financial statements for the year ended 30 June 2016 are expected to be released on SENS on 5 September 2016.
This statement has not been reviewed nor reported on by the company’s auditors.
By order of the board
Johannesburg
18 August 2016
Sponsor: Investec Bank Limited